HSBC plans 0% enhanced market participation notes linked to Nikkei 225

By Laura Lutz

Des Moines, Oct. 12 - HSBC USA Inc. plans to price 0% enhanced market participation notes due May 5, 2009 linked to the Nikkei 225 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout will be par plus triple any gain on the index, capped at a payout of between 128% and 130% of par. The exact cap will be set at pricing.

If the final index level is below the initial level, the payout will be par times the index performance.

The notes are expected to price on Oct. 26 and settle on Oct. 31.

HSBC Securities (USA) Inc. is the underwriter.

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